| Hello, Traders! đ Itai Levitan here from ForexLive.com, bringing you a quick and insightful NASDAQ technical analysis as we await the market's opening this Monday. For those familiar with my approach, you know I like to keep things simple and straight to the point. đŻ In my latest video, I dive into the recent price movements, highlighting the ascending wedge and its implications as both a trading range and a signal for potential shifts. We observed a notable breakdown and retest, including a deep retest where prices attempted to re-enter the previously established range, only to face resistance at the all-time high of 18,121.5, followed by a swift drop. đ Despite these movements, the market ended the week on a note that demands attention. As long as prices remain below the critical blue line, the bullish case seems halted. This analysis doesn't just stop at identifying trends; we also explore potential scenarios, including a regression channel hinting at a possible range and a bearish channel awaiting confirmation. đ» Moreover, we utilize an anchored VWAP from a significant low to gauge buyer interest and possible support levels, pinpointing the crucial 17,450 - 17,460 area as a key testing ground. đ ïž This video is packed with insights, including a discussion on the importance of the VWAP as the lower boundary of our trading range and how current selling pressure indicates a shift in the market's direction. Whether you're eyeing bullish or bearish outcomes, this analysis is designed to prepare you for the week ahead. đ Remember, trading involves risk, so make informed decisions and consider multiple perspectives. For more analyses and updates, return to ForexLive.com. Wishing you a successful trading week ahead! â đ Subscribe for more updates and hit that like button if you find this analysis helpful. Drop your questions and thoughts in the comments below, and let's keep the trading community informed and engaged! đŹ Happy Trading! đ |
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